Attempts l I Average / 4 3. Exercise 1 1.4 Unique Creations holds a monopoly position in the production and sale of magnometers. The cost function facing Unique is estimated to be TC = $100,000 + 20Q What is the marginal cost (MC) for Unique? $20.00 If the price elasticity of demand for Unique is currently 1.5, what price should Unique charge? What is the marginal revenue (MR) at the price computed? $3.00 If a competitor develops a substitute for the magnometer and the price elasticity increases to 2.25, what price should Unique charge? Continue without saving